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20110701
20110731
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and a big part of this community. i was grateful to see him here today before i turn over to arianna who i think is an expert on journalism and editorial, i want to go through a few points of real big things that we're betting on as a company, not talk about aol but let's talk about the things we see in the future and why we're putting such an investment in journalism. number one question i get from wall street all the time is why journalism, why are you choosing when the rest of the world seems to be going away from journalism? why are you opening up a thousand patches? why did you buy the "huffington post"? and i think the things i'm about to talk about are a core essence of what we believe them. the first is really a bit of the human needs stage which is, if you woke up and today was your first day on planet earth, what would you knows and what would you see? i think there's some very stark things. one is there's four or 5 billion phones in peoples pockets and a lot of smart phone growth across the world, which means people are going to be connected full-time with information all the ti
and they count on washington, not always to take care of everything but take care of the big things like making sure we don't default on our obligations. he needed to talk to the american people, to those americans who haven't been paying close attention where this stands and why it is so important and why the risk is there that if congress doesn't act and we believe it will, something that has never happened before in our history could happen and it would be very bad indeed. that's why he had to address the country and why he wanted to explain to them his view, that compromise is so necessary. >> one other quick thing. i think on cbs radio this morn dan pfeiffer said if congress does not act by august 2nd this could lead to a depression. is this your position, that we might have a depression in america? >> depression, what i know, what, economic experts have said is that, and again, republican and democrat, jim baker, ronald reagan, all sorts, have said that a default on our obligations would produce an economic calamity. how that, how you demean that obviously depend on how long it lasts and
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